Examples of Existing Board in a sentence
Special meetings of the Board shall be held whenever called by the Chairman of the Board, the Chief Executive Officer or by a majority of the Existing Board, and shall be held at such place, on such date and at such time as he or they, as applicable, shall fix.
For purposes hereof, the term "Existing Board of Directors" shall mean the persons constituting the Board of Directors of the Company on the date hereof, together with each new director whose election, or nomination for election by the Company's stockholders is approved by a vote of the majority of the members of the Existing Board of Directors who are in office immediately prior to the election or nomination of such director.
Except as otherwise provided by law, the Certificate or these By-laws, a majority of the Existing Board shall constitute a quorum for the transaction of business at any meeting of the Board, and the vote of a majority of the directors present at any meeting at which a quorum is present shall be the act of the Board.
Existing Board members due to stand down and eligible for re-election are: Mary Thompson, Iris Crummack and Leon Kirkham.
Not withstanding the above, directors of Employer who were elected by or on recommendation of Existing Board shall be excluded in determining that a change in the majority of existing Board has taken place.